Brady Corporation is a Nebraska Corporation, but owns business and investment property in surrounding states as well.

Question:

Brady is a Nebraska but owns business and investment property in surrounding states as well. Determine the state where each item of income is allocated.
a. $15,000 of income.
b. $10,000 of interest income.
c. $15,000 of rental income for South Dakota property.
d. $20,000 of royalty income for an intangible used in South Dakota (where nexus exists).
e. $24,000 of royalty income from Kansas (where nexus does not exist).
f. $15,000 of capital gain from securities held for investment.
g. $30,000 of capital gain on real property located in South Dakota.
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